The after effects of the greatest mortgage meltdown in history have changed the dynamics of the real estate industry probably forever. Housing sales continue to slump, less future homeowners can qualify for a loan, and foreclosure filings continue to rise. Though the current snapshot of the industry looks painfully dismal on the surface, opportunities await the savvy businessperson.
Why consider a Foreclosure Consulting Business? This consulting business offers great income potential, is easy to start and run, and fills a huge demand to help people in pre-foreclosure save their homes.
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Did you know that as of mid year for 2007 there was an average of 925,986 foreclosure filings? At that current rate, it was estimated that over 1.8 Million foreclosures were to be carried out by the end of 2007. A light bulb should also go off to factor that also equals a lot of foreclosures needing to be stopped. This means that businesses are needed because homeowners need help to stop foreclosures. Now I am not taking about the Foreclosure Investor who is really a real estate investor who goes around asking homeowners to sign their property deeds over to them. A true consultant will never request that homeowners sign over their property deeds. No Sir, I am talking about legitimate consultants who work as a liaison between the homeowner and the mortgage lender/ bank to negotiate forbearances or a loan workout plan. This allows the homeowner in pre-foreclosure situation to keep their homes.
Even if the foreclosure process has started this consulting business offer trained professional consultants who know how to help the homeowner stop foreclosure. Often times Bankruptcy Attorneys encourage homeowners to file a bankruptcy to stop foreclosures. A bankruptcy is very hurtful to the homeowner's credit and takes 7 long years to recover. A consultant offer better solutions over filing bankruptcy to stop foreclosures.
A consulting business concentrating in foreclosures provide a service that is in great demand for a severely underserved market, the distressed homeowner facing foreclosure. Literally hundreds of thousands of distress owners desperately need this service but there are only a handful of foreclosure consultants fulfilling this great need for the demand. Therefore the market for this business is wide open.
Starting this type of business is ideal for real estate professionals who have experience as mortgage brokers, real estate agents, real estate investors, etc. Also, this is a great business for stay at home parents and persons running a home base business. I have trained many people on how-to start this kind of consulting company and seen them become successful. Make no mistakes about it; the need for the demand is very real and not extreme.
On average this type of beginning business could attract anywhere from five to fifty plus clients in a week. The consultant has the luxury of setting their own service fees and typically collects upon signing on to provide services. When you hire an attorney do they tell you to pay later? Exactly, the consulting service being offered are not legal services or advice but expertise that the homeowner needs to save their homes. Therefore, homeowners typically have no problems with paying retainer fees to have their foreclosures stopped.
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